The controller of a company requests from a manager a listing of creditors to be paid within one year.Which of the following will provide this information?
A) retained earnings
B) accounts receivable
C) mortgage
D) accounts payable

Question

Quizplus · Accepted Answer

Accounts payable is a liability account that shows the amounts owed to creditors for purchases made on credit. It will provide the listing of creditors that need to be paid within one year. Retained earnings show the accumulated profits of a company, accounts receivable show the amount of money owed to the company by customers, and mortgage is a long-term liability related to property or assets.

The Controller of a Company Requests from a Manager a Listing